Use the following bank statement and T-account to prepare any journal entries needed as a result of the May 31 bank reconciliation. (Ifno entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)BANK STATEMENTDateChecksDepositsOtherBalanceMay 1$ 260May 4 #2May 12 #4May 28#5$ 2511535$ 65300NSF check$ 6512085May 30 #630260315May 31#870Service charge20225Cash (A)DebitMay 1May 326065Credit6525May 3 #285May 4 #3115May 8 #435May 11 #530May 21 #236May 2926040May 29 #37May 3018070May 30 #8May 31365

Journal entries are accounting transactions arranged in chronological order with equal debit and…

Use the following bank statement and T-account to prepare any journal entries needed as a result of the May 31 bank reconciliation. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) BANK STATEMENT Date May 1 Checks Deposits Other Balance $ 260 May 4 #2 $ 25 $ 65 300 May 12 #4 115 NSF check $ 65 120 May 28 #5 35 85 May 30 #6 30 260 315 May 31 #8 70 Service charge 20 225 Cash (A) Debit Credit May 1 260 May 3 65 25 May 3 #2 85 May 4 #3 115 May 8 #4 35 May 11 #5 30 May 21 #6 May 29 260 40 May 29 #7 May 30 180 70 May 30 #8 May 31 365

Use the following bank statement and T-account to prepare any journal entries needed as a result of the May 31 bank reconciliation. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) BANK STATEMENT Date May 1 Checks Deposits Other Balance $ 260 May 4 #2 $ 25 $ 65 300 May 12 #4 115 NSF check $ 65 120 May 28 #5 35 85 May 30 #6 30 260 315 May 31 #8 70 Service charge 20 225 Cash (A) Debit Credit May 1 260 May 3 65 25 May 3 #2 85 May 4 #3 115 May 8 #4 35 May 11 #5 30 May 21 #6 May 29 260 40 May 29 #7 May 30 180 70 May 30 #8 May 31 365

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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prepare a bank reconciliation report.
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